Turnover in the case of Intraday Trading is Absolute Turnover, IN AIS statement Showing sale Value of Shares and securities is amount of Rs 2.20 Crore .
please assist which turn over i have to show in ITR 3 in speculative business 2.20 Crore of Absolut turnover which is 50K .
Also it is a loss case so need to require Audit u/s 44 AB ?
in some delivery base transactions also to be included in Business income or to be shown in Capital Gain statement ?

A person sold units of UTI MEPUS in 2023. The same was bought in 2003. The UTI sent the CG statement which shows the acutal purchase price in 2003, the grandfathered value as at 2018 and sale price and shows the applicable CG earned. However the statement does not indicate the ISIN number of the scheme. On enquiry the UTI has replied vide email that this scheme does not have ISIN as it is not traded in secondary market.
How can the LTCG in this case be reported. As this is an equity oriented scheme (the name itself says Master Equity Plan Unit Scheme) we decided to report in Sch 112A of the CG section in ITR 2. However, as there is no ISIN we are unable to report the same.
Please guide as to how this can be reported.

Kindly advise how to treat gain on sale of Car Bought a second hand car 290000 and sold after one week of purchase @ 370000
How the tax liability will arise on gain

Should I be declaring my personal F&O profit in
Trading Account -> Revenue from Operations -> Sales / Gross receipts of business -> Other operating revenues as "Profit from F&O trading"

Or, should it be in
Profit and Loss -> Other income -> Any other income as "Profit from F&O trading"

Last year, I had loss from F&O and I had put it under
Trading Account -> Direct Expenses -> Other direct expenses as "Loss from F&O trading"

Sir, An NRI assessee who has sold long term capital assest otherthan Residential House situated in India, is claiming exemption under section 54F. He has one residential house in India and one residential house out-side India, as on the date of transfer of long term capital asset. 54F restricts the benefit only for those having one house property. Because the assessee is having one house property in India he intends to claim the benefit of section 54F and contends that his having one house property out-side India also at the time of transfer of capital asset, though amounts to owning more than one house property, will not come in the way of claiming the benefit of Section 54F. Whether 54F benefit can be claimed by purchasing / constructing one house property in India withing the time allowed, even though he is having one house in India and one house out-side India, with the contension that, he does not own more than one house property in India. Thanks in advance.

Experts, please provide your opinion on the below query:

In table A3 we have 2 columns,
(I) Total gross amount paid/credited with respect to the holding during the period. (Dividend, interest etc.)

(iI) Total gross proceeds from sale during the period.

For converting the foreign currency into INR, is it accepted if I use the previous month closing rate with respect to transaction date.
Say transaction date for above two cases is 13 March 23. For converting to INR I apply the closing month end rate for February.

Query No 2.
In the same table, we have a column Initial value of investment:
Does the initial value of investment include brokerage paid on shares?
Eg: share price 10 X No. Of shares 100
Gross payable 1000
brokerage 50
Total payable 1050

Query No3.
In the same table gross proceeds from sale or redemption of investment.
Should I deduct the brokerage paid from the sales proceeds and report?

I apologize for the above silly queries, but a second opinion gives me comfort that I am not misreporting any information in ITR

is salaried person can file 139(8a) under 115BAC for FY 2022-23 return previously not filed

Hello Sir,
I am Salaried person and coming in 30% tax slab.
My mom is pensioner and her income is not taxable . We are filling ITR for my MON from last 8 years.

I have Open FD (of very Good amount) on my mom name with her bank name. Because of 2 reason to get more interest rate for senior citizen and to save some tax on FD Interest (30 % vs 0 or 5% as income is not taxable).
But I have some where heard that if you open FD more than 10 L in 1 calendar year then income tax may send notice to you and ask source of Fund.
In My case will it cause any issue ? If such notice receive to my Mom can we tell this amount transfer from account holder's son ?

Dear Experts,

The assessee has purchased 1000 shares of company A in 2010. The company got demerged in 2023 and 1000 shares of company B(demerged entity) were issued. The assessee sold shares of company B in FY 2023-24 resulting in long term capital gain on listed equity shares.
What would be fair market value of shares of company B as it was not listed separately before 31/01/2018? FMV of original company is to be taken as a whole or as per the demerger ration of original company and demerged company?

Please guide.

Thanks

If someone is retired person in India and having Pension + Interest Income in India.
And Also he moved out of India and having Income in Out of India

So if he files his Income Tax Return in India should he need to show NRI Income in India